Federal Long Term Care Insurance Program (FLTCIP) update | Enrollee decision period underway

"...The Office of Personnel Management has extended the Federal Long Term Care Insurance Program (FLTCIP) contract with the John Hancock Life and Health Insurance Co. for seven years.

Under the new contract, a rate increase will be needed for many current enrollees because the current FLTCIP premiums are not sufficient to meet the program’s future projected obligations.

Each affected enrollee will receive a package that will include an introductory letter, a return envelope, an informational brochure and a benefit options worksheet with detailed information about the enrollee’s current coverage and options to change coverage.

These packages were mailed in mid-September.

The deadline for enrollees to submit a selection is Nov. 9.

...The decision period is for affected FLTCIP enrollees only. This is is not a general open season because in December, the Office of Personnel Management suspended new applications for FLTCIP coverage for two years."    

This Article is From: usps.com


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Postal Service to Raise Rates Again Already

"...USPS has notified the Postal Regulatory Commission of mailing services price changes to take effect Jan. 21, 2024. The proposed adjustments, approved by the governors of the Postal Service, would raise mailing services product prices approximately 2 percent. The proposed changes include..."    

This Article is From: usps.com


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2023 Inflation | U.S. Postal Service to raise price of Forever stamp to 66 cents, 2nd hike this year

"Starting Sunday, the cost of the first-class “forever” stamps will jump from 63 to 66 cents. The latest price comes just months after forever stamps climbed from 60 to 63 cents in January, following a series of similar increases in recent years. When announcing its intention to raise forever stamp prices to 66 cents earlier this year, the USPS cited rising “operating expenses fueled by inflation” and the impacts of “a previously defective pricing model” — noting that changes to mail service costs “are needed to provide the Postal Service with much needed revenue.”..."    

This Article is From: www.newsday.com


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